Tetra Tech, Inc. (NASDAQ:TTEK) Shares Bought by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. increased its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 57.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,132 shares of the industrial products company’s stock after buying an additional 6,960 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Tetra Tech were worth $3,194,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of TTEK. Sarasin & Partners LLP grew its stake in Tetra Tech by 18.3% during the fourth quarter. Sarasin & Partners LLP now owns 1,221,928 shares of the industrial products company’s stock worth $203,976,000 after buying an additional 189,049 shares during the period. Invesco Ltd. grew its stake in Tetra Tech by 6.2% during the third quarter. Invesco Ltd. now owns 879,638 shares of the industrial products company’s stock worth $133,731,000 after buying an additional 51,139 shares during the period. Vontobel Holding Ltd. grew its stake in Tetra Tech by 2.8% during the fourth quarter. Vontobel Holding Ltd. now owns 533,587 shares of the industrial products company’s stock worth $89,072,000 after buying an additional 14,334 shares during the period. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in Tetra Tech during the fourth quarter worth approximately $82,209,000. Finally, abrdn plc grew its stake in Tetra Tech by 1.3% during the fourth quarter. abrdn plc now owns 475,320 shares of the industrial products company’s stock worth $79,345,000 after buying an additional 5,962 shares during the period. Institutional investors and hedge funds own 93.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TTEK shares. Maxim Group upped their target price on shares of Tetra Tech from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday. KeyCorp started coverage on shares of Tetra Tech in a research note on Wednesday, January 10th. They issued an “overweight” rating and a $191.00 target price for the company. Finally, Royal Bank of Canada lifted their price target on shares of Tetra Tech from $192.00 to $203.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $201.00.

Tetra Tech Trading Up 1.5 %

Shares of TTEK stock traded up $2.89 on Tuesday, reaching $196.09. The company had a trading volume of 164,711 shares, compared to its average volume of 260,165. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.61. The stock has a market cap of $10.49 billion, a PE ratio of 45.24 and a beta of 0.96. The company has a 50-day moving average of $184.83 and a 200-day moving average of $170.68. Tetra Tech, Inc. has a 12 month low of $132.29 and a 12 month high of $196.30.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.05. Tetra Tech had a return on equity of 21.05% and a net margin of 4.77%. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $974.00 million. During the same period in the prior year, the business posted $1.34 EPS. On average, equities analysts forecast that Tetra Tech, Inc. will post 6.07 earnings per share for the current year.

Insider Buying and Selling

In other Tetra Tech news, CFO Steven M. Burdick sold 7,515 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $175.67, for a total transaction of $1,320,160.05. Following the completion of the transaction, the chief financial officer now owns 29,890 shares of the company’s stock, valued at approximately $5,250,776.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director J Kenneth Thompson sold 3,500 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $177.24, for a total value of $620,340.00. Following the transaction, the director now owns 10,985 shares in the company, valued at $1,946,981.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steven M. Burdick sold 7,515 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $175.67, for a total value of $1,320,160.05. Following the completion of the transaction, the chief financial officer now owns 29,890 shares in the company, valued at approximately $5,250,776.30. The disclosure for this sale can be found here. In the last three months, insiders sold 32,123 shares of company stock valued at $5,487,673. 0.61% of the stock is owned by corporate insiders.

About Tetra Tech

Tetra Tech, Inc provides consulting and engineering services in the United States and internationally. The company operates through two segments, Government Services Group (GSG) and Commercial/International Services Group (CIG). The GSG segment offers early data collection and monitoring, data analysis and information management, science and engineering applied research, engineering design, project management, and operations and maintenance services; and climate change and energy management consulting, as well as greenhouse gas inventory assessment, certification, reduction, and management services.